How Birkenstock’s Hippie-Sandal CEO Jilted an Ex-Goldman Star
- Oliver Reichert led sale of iconic German footwear maker
- CVC went from frontrunner to being sidelined in process
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As Christmas Eve approached last year, Germany’s savviest dealmaker thought he’d pocketed a special gift.
In the early hours of Dec. 24, Alexander Dibelius struck a gentleman’s agreement with Oliver Reichert, the chief executive officer of Birkenstock. CVC Capital Partners, the buyout firm where Dibelius is a managing partner, was set to buy the iconic German sandal-maker for more than 3.5 billion euros ($4.2 billion).